When it comes to eCommerce field, the entire world is continuously evolving. You might have found the reducing number of brick and mortar stores in the market. With the advancement in technology, the online presence has increased. There are online businesses that have started ruling the business world entirely and shifted completely to the online.For a successful business, you must have a strong business model to be followed through. Here, in this article, you will find various tips to help you with the B2B eCommerce business. Follow these and achieve your business goals.Firstly, let us discuss how businesses can benefit each other with the B2B eCommerce business.The B2B business model makes us aware of the concept which consists of businesses that act like customers. This is a type of business model which consists of a process of exchange of goods and services taking place between the businesses. Basically, these transactions take place in the exchange of raw materials, the businesses generally source materials from business to manufacturing a new product. This way, both these businesses benefit each other in many ways.Are you going to attend any of these eCommerce conferences in 2018?Now, Let us talk about the various diversifications of this B2B model.The B2B models are simply diversified through the types of their niche.
- Supplier Centric
The supplier centric model consists of a business where the supplier sets up a marketplace & sells the customized solutions to different businesses. Majorly, these business owners make their prices according to the need of the client.
- Buyer-Centric
This type of B2B model is highly popular among the high-rated businesses that contain huge purchasing capacity and highest purchases. Here, the company that is looking for any kind of product, creates a portal and accept the quotations online from various sellers out there. Post that, the sellers approach the company with the quotations and the company finds out the most appropriate seller for them.
- Intermediary Centric
The intermediary is the one that provides a common platform for the buyers and sellers to meet and interact about the transactions of the sector. Here, these people maintain the database of buyers and sellers with an aim to earn profit from the associations. Now, let us know more about this extremely wonderful business trend with the help of some stats found with the help of some research.
- It is found that B2B eCommerce market will be worth $1.1 Trillion when compared to the B2C market at $480b by 2019.
- 50% B2B buyers look for the improved & customized personalization as the deciding factor while choosing the partner.
- B2B is an entirely global business. On an average, all the B2B organizations operate in 7 languages. Multiple languages and multiple currencies let the entrepreneurs meet the expectations of their customers.
- It is reported that 75% buyers are influenced by the social media and they require B2B eCommerce solutions to have a presence on various social channels.
- When looking for partners, more than 75% of customers focus on the website design. And goes for the one which makes it easy for them find what they are looking for.
It is found that B2B online commerce speeding twice fastly when compared to B2C In spite of being less popular and less explored type of business, B2B is spread worldwide in its early stages. This shows the steady growth of the business type in the near future. B2B eCommerce solutions have shown an extraordinary growth recently.
The best part is this offers a huge variety of opportunities for all the types of sellers, .i.e. Retailers, manufacturers, wholesalers, service providers, and entrepreneurs. This business form also offers support for multiple geographies with the help of multi-channel for sales offer better.Now, Looking for a B2B partner? Here, I‘ll tell you what things need to be kept in mind.
- When going for a technology partner, you will either build your business or ruin it. So, it is a necessity to select the B2B partner wisely. Searching B2B is the partner is a bit difficult than B2C eCommerce model.
- You need to check various things before selecting your B2B partner. Below mentioned are some of those things that you must know about your B2B partner.
- Check if they have experience in catering to the B2B partners. If yes, a number of years of experience.
- Check if the solution provided by them is scalable for your business or not.
- Check if they will be able to customize their solution in order to fit your requirements.
- Check if they will help you to make your business global.
- There might be numerous things that should be taken care of depending on the requirements.
- All in all, you must go for a B2B partner that is totally suitable for all your requirements.
Contact Elsner today, to know more about the B2B partner and find out the finest B2B partner for your business.
